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SIDBI signs pact with HDFC Bank to offer Financial Solutions to MSMEs

Published on June 08, 2023
Current Context: SIDBI (Small Industries Development Bank of India) has signed a pact with HDFC Bank (Housing Development Finance Corporation) to offer financial solutions to MSMEs (Micro, Small and Medium Enterprises).
SIDBI signs pact with HDFC Bank to offer Financial Solutions to MSMEs
  • The pact aims to provide complete financial products and services to MSME customers in a seamless manner.
  • This will enable MSMEs to avail financial products and services of both the banks. The pact was signed on June 6, 2023
  • MSMEs will benefit from this partnership by getting access to comprehensive financial products and services from both SIDBI and HDFC Bank.
  • This will help them in growing, developing and commercializing their businesses. They will also get refinance support, discounting of bills, and funding support from SIDBI.

Question:

Q.1 Which two banks have signed a pact to offer financial solutions to MSMEs?
a. SIDBI and HDFC Bank
b. SIDBI and ICICI Bank
c. HDFC Bank and SBI
d. HDFC Bank and Axis Bank
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